Comment by WalterBright
20 hours ago
> Sadly, the billionaires would be untouched.
Why would you conclude that? Billionaires have their money invested in the same things as your 401k, etc.
20 hours ago
> Sadly, the billionaires would be untouched.
Why would you conclude that? Billionaires have their money invested in the same things as your 401k, etc.
When you have billions, you have so much margin for loss that it would not materially affect your life; if you lose 80% of your wealth, you can still survive and continue rebuilding it. Whereas if you've got 1 mil in your 401k and you lose 80% of that, well, you're f-ed for retirement.
Nobody is making you invest in the market.
Indeed, stock market crashes are the greatest tool for reducing wealth inequality. We should want more of them, surely!